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The Daily Hodl 2023-10-10 20:00:30

FTX’s ‘Insurance Fund’ Was an Arbitrary, Made-Up Number, According to Co-Founder Gary Wang: Report

What FTX listed as its “Insurance Fund” was actually a fake amount calculated with the help of a random number generator, according to court testimony from the exchange’s co-founder, Gary Wang. A transcript of the court proceedings provided by BitMEX Research indicates Wang was questioned about the supposed insurance fund last week during former FTX The post FTX’s ‘Insurance Fund’ Was an Arbitrary, Made-Up Number, According to Co-Founder Gary Wang: Report appeared first on The Daily Hodl .

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